As filed with the Securities and Exchange Commission on March 21, 2013
Investment Company Act File No. 811-1911; Securities Act File No. 2-34215
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 x
POST-EFFECTIVE AMENDMENT No. 99 x
and/or
REGISTRATION STATEMENT UNDER INVESTMENT COMPANY ACT OF 1940 x
Amendment No. 79 x
SCHRODER CAPITAL FUNDS (DELAWARE)
875 Third Avenue, 22nd Floor, New York, New York 10022
(212) 641-3800
Carin F. Muhlbaum, Esq.
Schroder Investment Management North America Inc.
875 Third Avenue, 22nd Floor,
New York, New York 10022
Copies to:
Timothy W. Diggins, Esq.
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, MA 02199-3600
It is proposed that this filing will become effective (check appropriate box):
x Immediately upon filing pursuant to paragraph (b)
¨ 60 days after filing pursuant to paragraph (a)(1)
¨ 75 days after filing pursuant to paragraph (a)(2)
¨ On (date) pursuant to paragraph (b)
¨ On (date) pursuant to paragraph (a)(1)
¨ On (date) pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
¨ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
This post-effective amendment is being filed pursuant to the annual update of the registration statement of all existing series of the Trust. The Registrant has registered an indefinite amount of its shares of beneficial interest under the Securities Act of 1933, pursuant to Rule 24f-2 under the Investment Company Act of 1940. In reliance upon Rule 24f-2, no filing fee is being paid at this time.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereto duly authorized, in the City of New York and the State of New York, on this 21st day of March, 2013.
SCHRODER CAPITAL FUNDS (DELAWARE) |
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By: |
/s/ Mark A. Hemenetz |
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Name: |
Mark A. Hemenetz |
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Title: |
President and Principal Executive Officer |
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Pursuant to the requirements of the Securities Act of 1933, as amended, this amendment to the Registration Statement has been signed below by the following persons in the capacities indicated on March 21, 2013.
Principal Executive Officer |
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By: |
/s/ Mark A. Hemenetz |
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Name: |
Mark A. Hemenetz |
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Title: |
President and Principal Executive Officer |
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Principal Financial and Accounting Officer |
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By: |
/s/ Alan M. Mandel |
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Name: |
Alan M. Mandel |
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Title: |
Treasurer & Principal Financial and Accounting Officer |
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*Jay S. Calhoun, Trustee
*Margaret M. Cannella, Trustee
*Mark D. Gersten, Trustee
*Catherine A. Mazza, Trustee
By: |
/s/ Alan M. Mandel |
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Alan M. Mandel, Attorney-in-Fact* |
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* Pursuant to powers of attorney previously filed as exhibits to this Registration Statement.
Exhibit Index
Exhibit Number |
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Description |
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EX-101.INS |
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XBRL Instance Document |
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EX-101.SCH |
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XBRL Taxonomy Extension Schema Document |
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EX-101.CAL |
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XBRL Taxonomy Extension Calculation Linkbase |
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EX-101.DEF |
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XBRL Taxonomy Extension Definition Linkbase |
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EX-101.LAB |
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XBRL Taxonomy Extension Labels Linkbase |
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EX-101.PRE |
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XBRL Taxomony Extension Presentation Linkbase |
Label | Element | Value | |||||||||||||||||||||||||
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | SCHRODER INTERNATIONAL ALPHA FUND | |||||||||||||||||||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective: | |||||||||||||||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks long-term capital appreciation through investment in securities markets outside the United States. |
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Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund: | |||||||||||||||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The tables below describe the fees and expenses that you may pay if you buy and hold shares of the Fund. |
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Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) | |||||||||||||||||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||
Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2014-02-28 | |||||||||||||||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover. | |||||||||||||||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes for you if your Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 63% of the average value of its portfolio. |
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 63.00% | |||||||||||||||||||||||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | "Other Expenses" are based on estimated amounts for the current fiscal year. | |||||||||||||||||||||||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | "Net Annual Fund Operating Expenses" shown above include expenses incurred indirectly by the Fund (e.g., indirect Other Expenses and/or Acquired Fund Fees and Expenses), and thus may be higher than the Ratio of Expenses to Average Net Assets included in the "Financial Highlights" section of the full prospectus. If only the operating expenses of the Fund were included in Net Annual Fund Operating Expenses, and not the indirect expenses incurred by the Fund, the Net Annual Fund Operating Expenses would be 0.95% for Investor Shares, and 1.30% for Advisor Shares. | |||||||||||||||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example. | |||||||||||||||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the costs of investing in other mutual funds. The Example assumes that you invest $10,000 in the noted class of shares of the Fund for the time periods indicated, your investment has a 5% return each year, and the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, the Example shows what your costs would be based on these assumptions. The Example is based, for the first year, on the Net Annual Fund Operating Expenses and, for all other periods, on Total Annual Fund Operating Expenses. |
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Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | Investor Shares - Advisor Shares (whether or not shares are redeemed) | |||||||||||||||||||||||||
Expense Example, No Redemption, By Year, Caption [Text] | rr_ExpenseExampleNoRedemptionByYearCaption | Investor Shares - Advisor Shares (whether or not shares are redeemed) | |||||||||||||||||||||||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies. | |||||||||||||||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund normally invests at least 65% of its total assets in equity securities of companies located outside the United States. The Fund's sub-adviser attempts to invest broadly across regions and countries, including emerging market countries, though the Fund may, from time to time, invest more than 25% of its net assets in any one country or group of countries. The Fund expects typically to invest in forty to sixty companies at any one time and will typically invest a substantial portion of its assets in countries included in the MSCI EAFE Index. The sub-adviser relies on a fundamental, research-driven, bottom-up approach to identify issuers it believes offer the potential for capital growth. The sub-adviser considers factors such as a company's potential for above average earnings growth, a security's attractive relative valuation, and whether a company has proprietary advantages. The Fund may invest in common and preferred stocks, convertible securities and warrants of companies of any size market capitalization. The Fund may also invest in closed-end funds or exchange-traded funds, and may use options, futures contracts, and other derivative instruments in an attempt to add incremental return (sometimes referred to as "alpha") over the Fund's benchmark index. |
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Risk [Heading] | rr_RiskHeading | Principal Risks. | |||||||||||||||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | It is possible to lose money on an investment in the Fund. The Fund will be affected by the investment decisions, techniques and risk analyses of the Fund's investment team and there is no guarantee that the Fund will achieve its investment objective. The values of investments held by the Fund may fluctuate in response to actual or perceived issuer, political, market, and economic factors influencing the financial markets generally, or relevant industries or sectors within them. Fluctuations may be more pronounced if the Fund invests substantially in one country or group of countries or in companies with smaller market capitalizations. Other principal risks of investing in the Fund include: • Foreign Securities/Currencies Risk: investments in non-U.S. issuers, directly or through use of depositary receipts, may be affected by adverse political, regulatory, economic, market or other developments affecting issuers located in foreign countries, currency exchange rates or regulations, or foreign withholding taxes; • Emerging Markets Securities Risk: compared to foreign developed markets, investing in emerging markets may involve heightened volatility, greater political, regulatory, legal and economic uncertainties, less liquidity, dependence on particular commodities or international aid, high levels of inflation, and certain special risks associated with smaller capitalization companies; • Equity Securities Risk: equity securities may react more strongly to changes in overall market conditions, or to a particular issuer's financial condition or prospects, than other securities of the same issuer or relative to other asset classes; in a liquidation or bankruptcy, claims of bond owners take priority over those of preferred stockholders, whose claims take priority over those of common stockholders; • Convertible Securities Risk: debt securities that are convertible into preferred or common stocks are subject to the risks of both debt and equity securities; • Warrants Risk: warrants involve the market risk related to the underlying securities, the counterparty risk with respect to the issuing broker, and risk of illiquidity within the trading market for warrants; • Derivatives Risk: investing in derivative instruments may be considered speculative and involves leverage, liquidity, and valuation risks and the risk of losing more than the principal amount invested; • Issuer Focus Risk: focusing on a relatively small number of issuers increases risk and volatility; • Investments in Pooled Vehicles Risk: investing in another investment company subjects the Fund to that company's risks, and, in general, to a pro rata portion of that company's fees and expenses; • Liquidity Risk: illiquid securities may be highly volatile, difficult to value, and difficult to sell or close out at favorable prices or times. Investments in foreign securities, including emerging market securities, tend to have greater exposure to liquidity risk; • Valuation Risk: certain securities may be difficult to value, and to the extent the Fund sells a security at a price lower than that used to value the security, its net asset value will be adversely affected; and • Portfolio Turnover Risk: if the Fund frequently trades its securities, this will increase transaction costs, may result in taxable capital gains, and may lower investment performance. Please see "Principal Risks of Investing in the Funds" in the Fund's full prospectus for a more detailed description of the Fund's risks. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | It is possible to lose money on an investment in the Fund. | |||||||||||||||||||||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | |||||||||||||||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance Information. | |||||||||||||||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in its total return from year to year and by comparing the Fund's average annual total returns with those of a broad-based market index. The bar chart shows the performance of the Fund's Investor Shares. The performance of Advisor Shares would be lower because of the lower expenses paid by Investor Shares. Past performance (before and after taxes) is not necessarily predictive of future performance. Visit www.schroderfunds.com for more current performance information. |
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following bar chart and table provide some indication of the risks of investing in the Fund by showing changes in its total return from year to year and by comparing the Fund's average annual total returns with those of a broad-based market index. | |||||||||||||||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.schroderfunds.com | |||||||||||||||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Past performance (before and after taxes) is not necessarily predictive of future performance. | |||||||||||||||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Calendar Year Total Returns Calendar Year End (through 12/31) | |||||||||||||||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Highest and Lowest (for periods shown in
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Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Highest | |||||||||||||||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | |||||||||||||||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 27.44% | |||||||||||||||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Lowest | |||||||||||||||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | |||||||||||||||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (23.72%) | |||||||||||||||||||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deduction for fees, expenses or taxes) | |||||||||||||||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their shares in the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. | |||||||||||||||||||||||||
Performance Table Explanation after Tax Higher | rr_PerformanceTableExplanationAfterTaxHigher | In some cases, the return after taxes may exceed the return before taxes due to an assumed tax benefit from any losses on a sale of Fund shares at the end of the measurement period. After-tax returns for Advisor Shares will vary. | |||||||||||||||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | After-tax returns are shown only for Investor Shares and are estimated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their shares in the Fund through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. In some cases, the return after taxes may exceed the return before taxes due to an assumed tax benefit from any losses on a sale of Fund shares at the end of the measurement period. After-tax returns for Advisor Shares will vary. |
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Caption | rr_AverageAnnualReturnCaption | Average Annual Total Returns for Periods Ended December 31, 2012 | |||||||||||||||||||||||||
MSCI EAFE Index (reflects no deduction for fees, expenses or taxes)
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 17.32% | |||||||||||||||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (3.69%) | |||||||||||||||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 8.21% | |||||||||||||||||||||||||
SCHRODER INTERNATIONAL ALPH FUND - INVESTOR CLASS
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||
Redemption Fee (as a percentage of Amount Redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | |||||||||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.80% | |||||||||||||||||||||||||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | |||||||||||||||||||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.60% | [1] | ||||||||||||||||||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | |||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.41% | |||||||||||||||||||||||||
Fee Waiver or Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.45%) | [2] | ||||||||||||||||||||||||
Net Annual Fund Operating Expenses | rr_NetExpensesOverAssets | 0.96% | [3] | ||||||||||||||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 98 | |||||||||||||||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 402 | |||||||||||||||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 728 | |||||||||||||||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 1,652 | |||||||||||||||||||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 98 | |||||||||||||||||||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 402 | |||||||||||||||||||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 728 | |||||||||||||||||||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | 1,652 | |||||||||||||||||||||||||
Annual Return 2003 | rr_AnnualReturn2003 | 32.93% | |||||||||||||||||||||||||
Annual Return 2004 | rr_AnnualReturn2004 | 15.24% | |||||||||||||||||||||||||
Annual Return 2005 | rr_AnnualReturn2005 | 18.32% | |||||||||||||||||||||||||
Annual Return 2006 | rr_AnnualReturn2006 | 24.46% | |||||||||||||||||||||||||
Annual Return 2007 | rr_AnnualReturn2007 | 14.05% | |||||||||||||||||||||||||
Annual Return 2008 | rr_AnnualReturn2008 | (46.90%) | |||||||||||||||||||||||||
Annual Return 2009 | rr_AnnualReturn2009 | 47.34% | |||||||||||||||||||||||||
Annual Return 2010 | rr_AnnualReturn2010 | 15.32% | |||||||||||||||||||||||||
Annual Return 2011 | rr_AnnualReturn2011 | (16.61%) | |||||||||||||||||||||||||
Annual Return 2012 | rr_AnnualReturn2012 | 19.00% | |||||||||||||||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are shown only for Investor Shares and are estimated using the highest historical individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | |||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 19.00% | |||||||||||||||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (2.19%) | |||||||||||||||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 8.70% | |||||||||||||||||||||||||
SCHRODER INTERNATIONAL ALPH FUND - INVESTOR CLASS | After Taxes on Distributions
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 19.14% | |||||||||||||||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (2.17%) | |||||||||||||||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 8.63% | |||||||||||||||||||||||||
SCHRODER INTERNATIONAL ALPH FUND - INVESTOR CLASS | After Taxes on Distributions and Sale of Fund Shares
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 12.91% | |||||||||||||||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (1.65%) | |||||||||||||||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 7.88% | |||||||||||||||||||||||||
SCHRODER INTERNATIONAL ALPHA FUND - ADVISOR CLASS
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Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||
Redemption Fee (as a percentage of Amount Redeemed) | rr_RedemptionFeeOverRedemption | (2.00%) | |||||||||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.80% | |||||||||||||||||||||||||
Distribution (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | |||||||||||||||||||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.70% | [1] | ||||||||||||||||||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | |||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.76% | |||||||||||||||||||||||||
Fee Waiver or Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.45%) | [2] | ||||||||||||||||||||||||
Net Annual Fund Operating Expenses | rr_NetExpensesOverAssets | 1.31% | [3] | ||||||||||||||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 133 | |||||||||||||||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 510 | |||||||||||||||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 912 | |||||||||||||||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,036 | |||||||||||||||||||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 133 | |||||||||||||||||||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 510 | |||||||||||||||||||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 912 | |||||||||||||||||||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | 2,036 | |||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 18.67% | |||||||||||||||||||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | (2.43%) | |||||||||||||||||||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 8.44% | |||||||||||||||||||||||||
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